Federal Reserve Chairman Alan Greenspan will open a consulting firm in Washington after he retires on Tuesday, a person familiar with the situation said.

The firm will specialize in economic analysis, although details of the arrangement have not been completed. Mr. Greenspan also plans to write a book and give lectures and will avoid sitting on corporate boards.

“There is no sign he doesn’t want to make a contribution” to the public policy debate, the chief U.S. economist at Swiss Re New Markets in New York, Kurt Karl, said. Mr. Karl said his company had hired the former Fed chairman Paul Volcker as a consultant in the past and would probably consider hiring Mr. Greenspan.

Mr. Volcker, who was Fed chairman from 1979 to 1987, has avoided commenting on central bank policies since he left. Mr. Greenspan may be more inclined to defend his legacy, and will probably contribute to policy debates on Social Security and budget issues, Mr. Karl said.

The Fed spokeswoman, Michelle Smith, declined to comment on Mr. Greenspan’s new consulting firm. The Fed said on Wednesday that Ms. Smith will leave her job to join Mr. Greenspan at his new company. Ms. Smith previously was a spokeswoman for the Treasury Department.